Technavio recognizes the following companies as the key players in the global safety drives market: ABB, Beckhoff, Rockwell Automation, Siemens, and SIGMATEK.Other Prominent Vendors in the market are: B&R (Part of ABB group), HOERBIGER, WEG, Kollmorgen, Pilz, CG Global, Technosoft, Ketterer, Shenzhen INVT Electric, Schneider Electric, and Shenzhen Sikes Electric.
Commenting on the report, an analyst from Technavios team said: One trend in the market is emerging need for hybrid safety drives. Hybrid safety drives advanced safety drives with diverse functionalities.
The drives are designed differently; instead of using lamination, they use amorphous powder metals, which are flexible in adapting to any magnetic circuit for diverse industrial applications in process and discrete industries.
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According to the report, one driver in the market is cost-effectiveness and flexibility of safety drives. Safety drives are cost-effective as the investment is made on a single device rather than a suite of independent devices for the same function.
Safety-integrated drives perform functions related to safety as well as control, whereas traditional drives additionally required two separate devices for both the functions. Also, safety-integrated drives are costlier than traditional drives.
This is because traditional drives are not as efficient as safety drives and the ROI on safety drives is comparatively low.Further, the report states that one challenge in the market is higher need for preventive maintenance for safety drives. Safety drives need timely maintenance, which increases the cost.
There are a lot of installation-related safety instructions that need to be taken into consideration. The wiring of the drives needs to be done carefully as any wrong wire attachment can lead to irreparable damage.
The components used in safety drives need regular inspections and require service on a yearly basis. Although this reduces systems breakdown, predictive maintenance is required so that the safety drives function appropriately.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Safety DrivesSafety drives are drives that are integrated with safety functionality like safe torque off (STO), safe speed control, safe monitoring, and self-diagnostics, reducing the need for circuit breaker or relays. This increases the overall machine performance and reduces downtime in the industrial process.
End-user industries in the global safety drives market include utility, manufacturing, healthcare, oil and gas, food and beverage, and others; the others segment includes industries such as water and wastewater treatment, HVAC, mining and metal, heavy machinery, paper and pulp, and chemical.Technavios analysts forecast the global safety drives market to grow at a CAGR of 6.76% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global safety drives market for 2017-2021. To calculate the market size, the report considers new installations, sales value, and services market.The market is divided into the following segments based on geography:
EMEATechnavio's report, Global Safety Drives Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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SIGMATEKOther prominent vendors
B&R (Part of ABB group)
Shenzhen INVT Electric
Shenzhen Sikes ElectricMarket driver
Cost-effectiveness and flexibility of safety drives
For a full, detailed list, view our report Market challenge
Higher need for preventive maintenance for safety drives
For a full, detailed list, view our report Market trend
Emerging need for hybrid safety drives
For a full, detailed list, view our report Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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